Douugh, a disruptive consumer fintech company based in Australia, has introduced ‘Savings Jars’ feature to its platform for US waitlist.
The new feature, which enables the customers to track their individual savings goals, is a part of its Freemium product.
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The Freemium product includes a smart bank account with a Mastercard debit card.
With the new offering, Douugh plans to cater to the millennial generation of the US and help them to develop financial awareness.
Douugh founder and CEO Andy Taylor said: “Seventy percent of Americans live pay-check to pay-check and do not have $1,000 in savings.
“The launch of ‘Savings Jars’ and specifically the launch of our default ‘Rainy Day’ jar feature, will help our customers live financially healthier by getting them to save up to $1,000 as cover for unexpected expenses, or achieve a specific saving goal like a deposit for a home.”
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By GlobalData“Leveraging AI, this new feature encourages people to foster financial wellness and focus on reducing their reliance on short-term debt in the form of buy now pay later services or credit cards, whilst saving for the long-term, ultimately changing their views and habits around money.”
Now the fintech plans to launch the Premium subscription service next year further bolstering its platform.
The Premium subscription service will come with AI money management features to further help the users manage their finances.
